How XRP whales are preparing for Ripple win against SEC

Ripple has garnered support from several experts and influencers on crypto Twitter in its legal battle with the US financial regulator, the Securities and Exchange Commission (SEC). Messari CEO Ryan Selkis expressed his support for the payment giant in a recent tweet. 

The recent XRP accumulation by large wallet investors has supported the bullish thesis for the altcoin. 

Also read: This Avalanche upgrade could revive AVAX after recent crisis with Korean exchanges

XRP whales are accumulating the altcoin

Based on data from crypto intelligence tracker Santiment, large wallet investors in the XRP network holding between 100,000 and 1 billion XRP tokens have been consistently accumulating the altcoin since March 7. 

As seen in the chart below, three different segments of the altcoin’s holders increased their XRP holdings over the past two weeks. 

XRP price v. Whale accumulation in different segments

Typically, whale accumulation is considered a bullish sign for an asset. It supports the bullish thesis for Ripple with influencers and experts voicing their support for the payment giant’s win in the lawsuit. 

Ryan Selkis, CEO of Messari recently tweeted:

Find out more about the SEC v. Ripple lawsuit here. 

Another metric that supports XRP’s bullish potential is the rise in daily active addresses. After the spike observed on March 19, Daily Active Addresses on XRP network have climbed consistently, this points at higher utility and relevance of the chain among crypto market participants. 

Daily Active Addresses on XRP

With on-chain metrics showing a sustained increase over the past two weeks, the narrative of Ripple’s win against the SEC has gained popularity. XRP holders are bullish on the cross-border remittance firm’s win against the US financial regulator.